State of Business: The Long Gain

On April 1 the U.S. economy will
begin what should turn out to be its 38th straight month of expansion
the longest peacetime period of gain in three decades.

The rise is much stronger than the 52-month expansion that came in the
midst of the Depression of the 1930s, and is already longer than the
35-month boom of the mid-1950s. Both of those previous expansions
ended with sharp drops; but today there is little worry that the U.S.
has had it too good for too long and thus may face a jarring business...